VRBeauty|1390416633|3598684 said:Can you imagine being the cutter tasked with cutting that beauty???
Ashleigh|1390418294|3598708 said:Is the company allowed to buy insurance for the rough before the cutter cuts the diamond?
krisjon said:Amazing.
Cutter, we want a 20 carat RB, H&A...no pressure.
Kenny is probably drooling right now!!!partgypsy said:Kenny, are you watching?
Paul or Yoram will have to say for sure but in an article about cutting another large diamond they said it was insured by Lloyds of London before cutting.Wink|1390426048|3598832 said:Ashleigh|1390418294|3598708 said:Is the company allowed to buy insurance for the rough before the cutter cuts the diamond?
I honestly do not know.
Wink
I remember reading the same thing someplace at one time or another.Wink|1390432132|3598931 said:Karl,
When I was at GIA as a student in 1975, I was told that it was surmised that the part of the Cullinan that was recovered was actually only a small fraction of the original crystal. I have always hoped that the rest of it would be unearthed someday.
Wink
ChristineRose|1390453289|3599248 said:Lloyd's will insure anything. Literally any crazy thing you come up with. The underwriters decide what the risk of loss is and then they offer it to their members. It's just a question of whether the insured is willing to pay the price the members will accept.
Karl_K|1392862224|3618995 said:http://www.idexonline.com/portal_FullNews.asp?id=39123
Petra Diamonds has sold a 29.62-carat blue diamond recovered from the Cullinan mine in South Africa in January for $25,555,555, or $862,780 per carat.
Based on the images & the price realized, it is aimed at one major stone with perhaps a few much smaller satellites.Karl_K|1390432576|3598947 said:Paul or Yoram will have to say for sure but in an article about cutting another large diamond they said it was insured by Lloyds of London before cutting.Wink|1390426048|3598832 said:Ashleigh|1390418294|3598708 said:Is the company allowed to buy insurance for the rough before the cutter cuts the diamond?
I honestly do not know.
Wink
However you never know if the reporter got it right.
DiaGem|1392880903|3619157 said:Based on the images & the price realized, it is aimed at one major stone with perhaps a few much smaller satellites.
Auction prices for such rocks range at around $1.3-1.7 Mil per carat. Yield IMO could range within 30-48%+- (e.g. 10-15 cts polished) depending on the shape and quality of cut.
The owners must have visualized something more significant to be profitable.
Insurance wise..., I learned "almost" everything can be insured depending on mathematics.
Negatives..., almost never a complete total lost & deductible usualy kicks it out of economic sense.
Cutting blues is extremely complicated & risky, a grey secondary can always surprise the most experience cutter.
Blues are extremely sensitive to heat caused in the cutting process and must be cut by a handful of cutters geered towards such a project.
I wish the new owners lots of luck, creativity will be the name of the game on this one IMO.
Karl_K|1392923774|3619437 said:DiaGem|1392880903|3619157 said:Based on the images & the price realized, it is aimed at one major stone with perhaps a few much smaller satellites.
Auction prices for such rocks range at around $1.3-1.7 Mil per carat. Yield IMO could range within 30-48%+- (e.g. 10-15 cts polished) depending on the shape and quality of cut.
The owners must have visualized something more significant to be profitable.
Insurance wise..., I learned "almost" everything can be insured depending on mathematics.
Negatives..., almost never a complete total lost & deductible usualy kicks it out of economic sense.
Cutting blues is extremely complicated & risky, a grey secondary can always surprise the most experience cutter.
Blues are extremely sensitive to heat caused in the cutting process and must be cut by a handful of cutters geered towards such a project.
I wish the new owners lots of luck, creativity will be the name of the game on this one IMO.
Interesting! Thanks Yoram.
Hope we get to see pics once it is cut.